Business
Hain Celestial Completes the Sale of Arrowhead Mills® and SunSpire®
LAKE SUCCESS, N.Y., Oct. 8, 2019 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) ("Hain Celestial" or the "Company"), a leading organic and
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"LAKE SUCCESS, N.Y., Oct. 8, 2019 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial\" or the \"Company\"), a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life™, today announced that it has completed the divestitures of the Arrowhead Mills® and SunSpire® brands to Hometown Food Company, a wholly-owned portfolio company of Brynwood Partners VII L.P. and Brynwood Partners VIII L.P., for $15 million subject to customary post-closing adjustments. The transaction includes the Arrowhead Mills manufacturing facility in Hereford, TX and its employees. The transaction will have a negligible impact on the ongoing EBITDA of Hain Celestial.\n\n \n\"We are pleased to complete the strategic divestitures of the Arrowhead Mills and SunSpire brands demonstrating the consistent execution of our stated transformational plan to reduce complexity and simplify the brand portfolio,\" commented Mark L. Schiller, Hain Celestial's President and Chief Executive Officer. \"We believe the Arrowhead Mills and SunSpire brands will thrive under new ownership as we focus our future initiatives and investments on areas of our business that better leverage our core competencies to improve our margins, profitability and cash flow generation.\" \nAbout The Hain Celestial Group, Inc. The Hain Celestial Group (Nasdaq: HAIN), headquartered in Lake Success, NY, is a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East. Hain Celestial participates in many natural categories with well-known brands that include Almond Dream®, Bearitos®, Better Bean®, BluePrint®, Casbah®, Celestial Seasonings®, Clarks™, Coconut Dream®, Cully & Sully®, Danival®, DeBoles®, Earth's Best®, Ella's Kitchen®, Europe's Best®, Farmhouse Fare™, Frank Cooper's®, Gale's®, Garden of Eatin'®, GG UniqueFiber™, Hain Pure Foods®, Hartley's®, Health Valley®, Imagine™, Johnson's Juice Co.™, Joya®, Lima®, Linda McCartney® (under license), MaraNatha®, Mary Berry (under license), Natumi®, New Covent Garden Soup Co.®, Orchard House®, Rice Dream®, Robertson's®, Rudi's Gluten-Free Bakery™, Rudi's Organic Bakery®, Sensible Portions®, Spectrum® Organics, Soy Dream®, Sun-Pat®, Sunripe®, Terra®, The Greek Gods®, Walnut ...